Welcome to the Daily 5 report for Tuesday, March 18.
Range anxiety and recharging times traditionally rank as the top reasons consumers don't buy electric vehicles. But what if charging stations could give drivers 250 miles of driving range in five minutes — roughly the same time it would take to fill a gasoline-powered car?
That's exactly what Chinese EV maker BYD says it can do. Now.
The chart in this Bloomberg story today illustrates why this apparent R&D breakthrough should scare Tesla, Mercedes and other automakers that produce EVs.
BYD's claim of 250 miles on a five-minute charge dwarfs Mercedes' 201 miles in 10 minutes and Tesla's 171 miles in 15 minutes.
For now, BYD's charging technology will only be available in China, but realistically, how long can this technology be kept out of Europe and North America? BYD could license the technology or other automakers potentially could find a way to match it through R&D.
Either way, it'll be interesting to see if U.S. tariffs or anti-EV policy shifts can keep this kind of breakthrough technology away from North American consumers. It's also another shot across the bow to Tesla's global EV dominance. It's no wonder BYD stock surged on the news while Tesla shares plunged.
In another automotive technology story breaking today, General Motors is expanding a partnership with Nvidia to use the company's computing technology and artificial intelligence in future vehicles and on the factory floor. As Lindsay VanHulle reports, the companies said they will use AI to simulate assembly lines, known as digital twins, running virtual tests of the production process to improve manufacturing uptime and efficiency.
Back to tariffs, this story from Bloomberg follows up on our scoop last week about how Ford Motor Co. is stockpiling components ahead of expected new tariffs. It's too early to get any concrete data, but the story suggests warehouses near the Canadian border may be getting a whole lot of new occupancy.
Bloomberg reported that Ford has hired trucking firms and secured warehousing in states including Michigan and Ohio to transport output from the Essex Engine Plant in Windsor, Ontario, over the border before any tariffs take effect, according to a local union representative.
As for passing along the costs of new tariffs, Volkswagen's Audi brand said it is weighing whether to charge more to U.S. customers, adding it was expecting a decision this year on localizing production in North America, Reuters reported.
Audi has no U.S. plant but is one of the auto brands most exposed to U.S. import tariffs via its plant in San Jose Chiapa, Mexico, which builds the Q5 and employs over 5,000 people, the story says. Of course, VW/Audi employees could also be paying for some of these costs as the company prepares to cut 7,500 jobs.
That's it for now. Have a great rest of your day.
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— Philip Nussel, online editor
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